Best homeowners insurance in Rhode Island of 2021

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Rhode Island is the smallest state in the country, but has a population of over 1 million residents. Nearly 61% of its residents own a home and pay an average of $1,193 per year, about $99 per month, for homeowners insurance. Having a homeowners insurance policy is an important part of your financial plan.

But finding the best homeowners insurance in Rhode Island — a policy that fits both your needs and your budget — can require research and an understanding of your state’s unique features. Bankrate’s insurance editorial team has conducted research that might help you find a Rhode Island home insurance policy that is right for you.

Best home insurance companies in Rhode Island

When researching Rhode Island homeowners insurance companies, we first analyzed average premiums obtained from Quadrant Information Services. We also reviewed each company’s available coverage and discounts, as well as any unique policy features like mobile apps or website functionality. Finally, we factored in J.D. Power customer satisfaction scores from the 2020 Home Insurance Study.

While searching for the best Rhode Island homeowners insurance, you may want to consider a quote from the following companies:

Home insurance company Average annual premium for $250k dwelling J.D. Power score
Allstate $1,388 829 / 1,000
Narragansett Bay Insurance $551 Not rated
Nationwide $969 808 / 1,000
State Farm $594 829 / 1,000
UPC Insurance $905 777 / 1,000


Allstate stands out for its unique add-on coverages, like sports equipment, musical instruments and green improvement reimbursement coverage. Rhode Island homeowners may also be able to take advantage of the company’s discounts and enroll in the disappearing deductible program to reduce their out-of-pocket expense following a claim.

Learn more: Allstate Insurance review

Narragansett Bay Insurance

Narragansett Bay Insurance is a local insurance company that is headquartered in Rhode Island. With the lowest premiums on our list, the company might be a good fit if budget is your primary concern and you like to keep your business local. The company offers many endorsements, like home systems protection and service line coverage. Narragansett Bay Insurance also offers flood coverage as a homeowners insurance endorsement, which is rare in the industry. Typically, a separate policy is needed.


Nationwide may be a good fit if you are looking for a policy that may be highly personalized. The company offers numerous optional coverages, including credit card coverage, identity theft and water backup coverage. The Better Roof Replacement option is a unique feature that will pay to repair or replace your roof with stronger, safer materials after a covered loss. The company also has a long list of discounts that might help you save on your premium.

Learn more: Nationwide Insurance review

State Farm

State Farm might be a great option for Rhode Island homeowners who want affordable coverage. The company has the second-lowest premium on our list. Additionally, State Farm is the largest homeowners insurance company, based on market share, in the country. The company’s long history may provide peace of mind to homeowners seeking a policy. State Farm also offers a variety of discounts for further savings.

Learn more: State Farm Insurance review

UPC Insurance

UPC Insurance specializes in coastal home insurance. Rhode Island homeowners could get robust coverage through endorsement packages. You may also want to consider purchasing specialty coverages, like equipment breakdown or service line coverage, to round out your coverage. If you have storm mitigation measures, like storm shutters or impact resistant doors, you may qualify for a discount.

Learn more: UPC Insurance review

How much is homeowners insurance in Rhode Island?

On average, Rhode Island home insurance costs $1,193 per year for a policy with $250,000 in dwelling coverage. For comparison, the average cost of home insurance in the United States is $1,312 per year.

The cost of home insurance in Rhode Island is comparable to neighboring states. For example, home insurance costs an average of $1,307 per year in Massachusetts and $1,184 in Connecticut. Like other homeowners in New England, Rhode Island homeowners have specific considerations when it comes to home insurance.

Home insurance in Rhode Island

Because of its close proximity to the coast, homes in Rhode Island are at an increased risk of hurricane, flood and storm surge damage. Understanding the common causes of loss in Rhode Island and what coverages could help protect your finances from these damages may help you to create a policy that fits your needs.

Common causes of loss in Rhode Island

In 2019, property and casualty losses in Rhode Island totaled $1.4 billion, according to the Insurance Information Institute. Some of the most common causes of damage in the state include:

  • Flooding: The entire state of Rhode Island has a relatively high risk for flood damage due to the state’s position on the coast. Because floods are not covered by homeowners insurance, the risk of flooding does not affect home insurance premiums. However, it may influence which coverages or add-on policies you choose to purchase.
  • Water damage: Other types of water damage, including water backup and damage caused by rain, are relatively common in Rhode Island.
  • Hurricanes and windstorms: Like the rest of New England’s coastal states, Rhode Island is often found in the path of hurricanes, which can cause devastating and widespread damage.

Understanding the common causes of loss in your region is an important part of purchasing homeowners insurance. Once you know the losses you need to insure your property for, you may feel better prepared to choose coverages.

Home insurance coverage options in Rhode Island

Most homeowners insurance policies in Rhode Island will include basic coverages, like dwelling, personal property, other structures, liability, medical payments and loss of use coverage. In addition, you might want to consider purchasing endorsements for more protection, such as:

  • Flood insurance: Flood damage is not covered by standard homeowners insurance policies. Some companies offer a flood insurance endorsement, but you will typically need to purchase a separate policy to obtain coverage.
  • Water backup coverage: If water backs up into a sewer or drain line and damages your home or personal property, you will need this endorsement to have coverage.
  • Debris removal coverage: Most policies have a standard amount of debris removal coverage, but you may want to increase your limits. This coverage could help to pay for the cost of removing debris from your property after a storm or other covered loss.
  • Dwelling replacement cost coverage: If your home qualifies, this coverage is designed to pay you for the full replacement cost of your home’s structure rather than taking depreciation out of a settlement.

Working with a licensed insurance professional may be helpful when you are choosing coverage. Agents typically have the additional expertise needed to be able to assess your situation and help you choose appropriate endorsements and coverage levels.

Frequently asked questions

What is the best homeowners insurance in Rhode Island?

There is not one homeowners insurance company in Rhode Island that is the best option for every resident. When you are shopping for coverage, it might be helpful to make a list of the coverages, discounts and features you are looking for. You could then request quotes from companies that match the features on your list to find the option that is right for you.

How do I get homeowners insurance in Rhode Island?

To get homeowners insurance in Rhode Island, you will first need to get quotes. You can often get quotes online, but you may need to call a company or visit a local agency, depending on the insurance company. You will usually need your date of birth, address and information about your home, like its age, the age of its roof and details about any custom features. Once you have selected a quote that you want to purchase, you can work with a representative to start your policy.

How much home insurance coverage do I need?

If you have a mortgage or home loan, your lender will likely require you to have at least enough dwelling coverage to pay off your loan if your home is destroyed. If you own your home outright, you generally have more flexibility when it comes to your coverage levels. However, most insurance professionals recommend that you purchase enough coverage to cover the full rebuilding cost of your home.

Considering your liability exposure ahead of your policy purchase may be a useful step in choosing an appropriate level of liability coverage. An agent should be able to help you choose appropriate coverage amounts.


Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.